UNCY - Cup and Handle & Catalyst

NASDAQ:UNCY   Unicycive Therapeutics, Inc.
Unicycive Therapeutics Inc is a biotechnology company dedicated to developing treatments for certain medical conditions. It is focusing on kidney diseases. The company's lead drug, Renazorb, is a novel phosphate-binding agent being developed for the treatment of hyperphosphatemia. Unicycive's other drug, UNI-494, is a new chemical entity with the issued composition of matter patent protection in late preclinical development for the treatment of acute kidney injury.

Disclaimer: This content is for informational purposes only and should not be considered financial advice.

Investment Overview (Dated 29/04/2024):

Relative Volume: 5.22
Shares in Float: 24.99 million

Recent Insider Buys: Noteworthy, suggesting potential confidence within the company.

Key Upcoming Dates:
Catalyst Event: 25/05/2024 and Q2 2024

Technical Analysis:

Cup and handle pattern detected.

Critical Resistance Levels: Watch for resistance at $1.60 and $1.80. Breaking above these levels could signal potential upward movements.

Key Support Level: The $1.30 level must be surpassed to enable further gains.

Trading Strategy:

Take Profit (TP): Set a profit target at approximately $2.50 to maximize returns.

Stop Loss (SL): Establish a stop loss strategy below $0.95 to minimize potential losses.

Chart Analysis:

For a detailed visual analysis of price actions and trend lines, please refer to the accompanying chart.

Trading Caution:

It is crucial to trade with careful consideration of market conditions and personal risk tolerance. Conduct thorough research or consult with a financial advisor before making any investment decisions.

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